The UPI payments are growing fast, and the user base of this service is increasing rapidly. With such an overwhelming number of transactions, BHIM has to put the limit per day on UPI transactions daily. In this guide, we will see what is UPI, benefits of UPI and UPI transaction per day and alternatives of UPI when transfer limit is over.
What is UPI? Full of UPI
Unified Payment System is a newly launched payments system which is based on Bharat Interface for Money (BHIM). You dont require any account details to transfer the money to your relatives/friends. Only a unique VPA (Virtual Private Address) is required to send/receive money.
Also, the UPI is linked to the mobile number registered with the bank and the six digit (or four digits)UPI PIN. This makes UPI payments more secure and reliable to use.
Allowed UPI Transactions per day
So UPI has a limit per day to minimise the burden on the servers. You can only transfer the set amount of money at one time and also in a day.
The UPI transactions limit per day are as follows –
Number of transactions Allowed within 24 Hrs – 10
Per day transaction limit – Rs. 1,00,000
So, you can transfer a total of 1 lac amount per day. Also, you can do 10 transactions which should not include the total amount of 1 lac.
FAQ’s about UPI transaction limit per day
1. Does UPI chargeable?
UPI has doesn’t charge for any transactions as of now.
2. Does the UPI limit is different for different UPI Apps?
No matter which UPI app you use, you can only transfer 1 lac per day and do 20 transactions in 24 hours.
3. What to do when I forget UPI PIN?
You can reset the UPI PIN if you forget it. You can read this guide on how to reset UPI PIN.
4. When the transaction limit gets reset?
If you are done with the maximum allowed amount or transactions, then you cannot do any more UPI transactions. You can wait for 24 hrs from the first transaction of the day.
Alternatives of UPI
If you have exceeded the UPI limit if the day and to do more transactions then are few other good old ways available.
IMPS – This service is almost similar to UPI but requires account details and is chargeable. You can generally transfer 2 lac per transaction and no limit on the amount transferred per day.
NEFT – This is a very old and well-known method to transfer the funds. NEFT only works in specific timings. There is no limit on transferring the amount via NEFT.
In this post of UPI transaction limit per day, we have seen the amount which can be transferred in a day via UPI and the number of transactions allowed in a day.
If you have any query related to UPI payments, then read our exclusive posts about UPI. Also, feel free to comment your queries, question about UPI limit per day in the comment section below.